Europe doesn’t like the new iPhoneSales of Apple’s iPhones are dropping in Europe due to the economic crisis and the lower prices of rival smart phones. The new iPhone 4S helped sales in the US and Britain, but failed to excite the rest of Europe.
European economies
Merkozy plan means more
referendums
In the past, the ratification of EU treaties by individual states has often been a timely and frustrating process. The new “Merkozy” plan will be no different, writes Keshia Jacotine.
The euro death spiral
Can the euro bounce back from the crashing markets, the huge national debt and the expensive bailout schemes? Economist blogger R.A. says the European Central Bank needs to move now, or it’ll be too late to save the currency.
Greek debt deal vote worries markets
Crikey media wrap: Greek Prime Minister George Papandreou’s vow to take the latest Eurozone debt plan to a referendum has thrown other European leaders and its markets into a panic.
Your Say: Daily Mail readers' feedback: On the seventh day, God didn’t create coal-fired power stations
Crikey readers have their say.
The doubts are growing about the Euro settlement
The money men who lend to governments had their first real opportunity on Friday to pass judgment on the latest extend and pretend European sovereign debt solution. Richard Farmer looks at what the commentariat are saying.
Eurozone’s Halloween treat: a confection of silver linings and hot air
The markets have seized on the latest European deal with relief. But it’s another confection, and a humiliating one at that, write Glenn Dyer and Bernard Keane.
Markets soar after euro debt deal
Crikey media wrap: After 10 hours of negotiations, European leaders finally agreed on a bailout plan to cope with the eurozone debt crisis. The news was enough to rally world markets.
Euro bailout deal in doubt
Crikey media wrap: The cancellation of a much-hyped meeting between European Union finance ministers in Brussels today, where it was hoped leaders would finally bang out a clear plan to solve the debt crisis, sent share markets tumbling.
Gillard rallies Commonwealth against Europe
Crikey media wrap: Julia Gillard will open the Commonwealth Heads of Government Meeting in Perth today with a warning to Europe that it needs decisive action to cope with its financial crisis.
Warnings about Italy
Another financial downgrade for a European nation — this time it is the ratings agency Moody’s declaring that “the Italian economy continues to face significant challenges..,” reports Richard Farmer.
World markets in freefall
Crikey media wrap: Investors are panicking, with world markets in freefall after a gloomy Federal Reserve outlook yesterday renewed fears of a global recession.
The fear infecting global markets
Crikey media wrap: If you were unsure of the magnitude of the current markets crash and downgrade of the US credit rating, the weekend’s newspaper front pages from around the world drill the message home pretty quickly.
The gap is still widening
The real concern for Europe is if much larger economies of Italy and Spain get into difficulties, since it would be near-impossible to save them from defaulting on debts, notes Richard Farmer.
Crikey wrap: meet the new IMF chief
Well, quelle surprise, the job of head of the International Monetary Fund went to France’s Christine Lagarde, continuing the seven-decade long tradition of having a European as boss of the financial regulator.
Will Greece repeat the tragedy of Argentina?
The Greek economy is struggling to keep afloat, but the European Union decided to delay its next cash injection until July. The NY Times has nine economists weigh in on the crisis and compare it to Argentina economic crash of the early 2000s.
Por fin, the Spanish protest unemployment with a touch of fiesta
It’s been dubbed the “Spanish Revolution”, reminiscent of the workers uprising and social revolution in Spain during the civil war in the 1930s. The sad thing is, most of the thousands filling the streets of Spain in recent days are only wannabe workers.
Maley: will collapse follow Greece’s debt marathon?
The eurozone’s sovereign debt crisis is again threatening to erupt, with growing disquiet that Greece’s rescue plan is in deep trouble, and the country could be forced to restructure its debts, writes Karen Maley.
Maley: the pillars of European weakness
There are hopes European Union’s latest round of stress tests will likely provide investors with some reassurance, writes Karen Maley.
Greece sets a new record
Scepticism clearly remains about whether Greece will survive without renegotiating its debt. The market last night was demanding a record high 12.521% to hold the government’s 10 year bonds, reports Richard Farmer.
Political snippets: GDP data more evidence of fading boom
Further evidence today that the Australian economy is not exactly booming.
And financial regulators wonder why smart people don’t trust them…
It was only back in July that the international financial regulators gave the major Irish banks the tick of approval. Fast forward four months and it’s a very different Ireland, notes Richard Farmer.
Just a little Greek accounting error
Eurostat, the statistical arm of the European Union, has just come up with revised figures for the Greek government’s budget deficit and debt. the deficit for 2009 has been increased from 13.6% of GDP to 15.4% with total debt now put at 126.8% of GDP, says Richard Farmer.
Default of the Irish?
Time is running out for Ireland. The debt-plagued country is being urged to accept a bailout to quell worries about its solvency, and to stop the turmoil in financial markets that is endangering weak members of the eurozone, says Karen Maley.
Not-so-lucky: Ireland’s economic woes worsen
Europe’s economic woes are back in the headlines, with Ireland appeaing in the most immediate danger thanks with the mooted €35 billion cost of bailing out Anglo Irish Bank causing Ireland’s budget deficit to increase to an alarming 32% of GDP (ten times the EU limit).
